Securities Litigation News
May 16, 2012
American Lawyer |
May 16, 2012
Bank of America shareholders who want to scuttle a proposed $20 million settlement of derivative claims arising from the bank's acquisition of Merrill Lynch have been thwarted again. On Monday U.S. District Judge P. Kevin Castel in Manhattan, who must decide whether to approve the settlement, rejected requests by the objectors to intervene and replace the lead plaintiffs and their counsel.
Tags: New York, Securities Litigation
D & O Diary |
May 16, 2012
In the wake of JP Morgan Chase’s startling news last week of its $2 billion trading loss, and of the equaling startling statements of Jamie DImon, the bank’s CEO, that the losing trades were, among other things, "flawed, complex, poorly reviewed, poorly executed, and poorly monitored," there has been speculation whether these disclosures would lead to litigation. In particular, commentators have asked whether Dimon’s candid statements would hurt the company in any litigation that might arise.
Tags: Securities Litigation
May 15, 2012
Forbes |
May 15, 2012
A Google search this morning doesn’t turn up a securities lawsuit against JP Morgan over its $2 billion trading miscue, but give the lawyers time. They’ll sue, and the question is whether JPMorgan Chief Jamie Dimon‘s very public apologies will give class-action lawyers fuel for a very lucrative settlement, or make it harder for them to win.
Tags: Securities Litigation
National Law Journal |
May 15, 2012
Congress is sure to hold hearings on how and why JPMorgan Chase lost $2 billion in hedge fund trading and what safeguards might prevent it from repeating, including testimony from federal banking regulators and the company's chief executive Jamie Dimon, financial regulation lawyers say.
Tags: Securities Litigation
May 10, 2012
Business Insider |
May 10, 2012
SEC Disagrees with Supreme Court’s Anti-U.S. Investor Morrison Decision and Favors Clearly Defined Private Right of Action against Foreign Wrongdoers, rather than Abolition of U.S. Investors’ Legal Rights, SEC Staff Study Asserts.
May 2, 2012
D & O Diary |
May 2, 2012
A great deal of the analysis of securities class action lawsuit settlements revolves around measures of aggregate, average and median settlement amounts. These data, while useful, are relatively unhelpful in trying to anticipate the outcome of any particular case, particularly at the outset.
Tags: Securities Litigation
April 27, 2012
Forbes |
April 27, 2012
If private securities litigation is designed to discipline corporate executives into doing the right thing, it definitely isn’t working.
April 25, 2012
Legal Newsline |
April 25, 2012
The Delaware Supreme Court has ruled that plaintiffs attorneys are entitled to $2.5 million in a case that will not bring immediate monetary relief.
April 24, 2012
Wall Street Journal |
April 24, 2012
Get ready for another spat over Dodd-Frank mortgage lending rules. It’s been more than a year since regulators unveiled the first set of proposed (and yet-to-be completed) mortgage rules resulting from the 2010 financial overhaul law.
April 18, 2012
Corporate Counsel |
April 18, 2012
When prominent plaintiffs’ lawyers applaud a “landmark change in the law,” prudence calls for reflection. Such is the case with the recent New York Court of Appeals decision clarifying the scope of the Martin Act—a decision that does, in fact, settle a longstanding question regarding securities-related claims by private litigants under New York State law.
Tags: Securities Litigation
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From The Blog
The Foreign Corrupt Practices Act bars U.S.-based and U.S.-traded companies from giving things of value to foreign...
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